It is worse in Europe, but try getting a FANG job in Europe and they still pay extremely well.
My base pay is 150K pounds and not in London! Definitely I have a very niche skill in demand and I had to work really hard and be luck at the same time, to land at this role, but I will any day pick Europe with all the other benefits that a European country gives me.
I think your niche skillset is probably the main reason, I doubt many FAANG people at an engineer level in the UK (especially outside London) make anywhere close to that.
I've been getting offers on that range in London for a few years now but they're senior management roles and I have a pretty unique skillset, FAANG recruiters haven't even bothered contacting me for like 10 years (they were chasing much harder when I was a junior engineer)
My base pay is 150K pounds and not in London! Definitely I have a very niche skill in demand and I had to work really hard and be luck at the same time, to land at this role, but I will any day pick Europe with all the other benefits that a European country gives me.